Tom Lee, Wall Street Strategist at Fundstrat, has recently urged his clients to jump back onto the Bitcoin Bull and ride it to a predicted $11,500 by the middle of next year. This comes after turning back from their short-term neutral approach this week.
As the ‘year of Bitcoin’ comes to a close, with no signs of stopping, many are making their predictions for next year with the likes of Ronnie Moas changing his theory twice in November already.
Even Max Keiser has set some long-term goals for Bitcoin, stating that there is every chance that it could reach $100,000.
‘Cleaned up the weak hands’
There have been a number of developments in recent weeks that have all added to the growth and reputation of Bitcoin. Its ability to bounce back from the dumped SegWit2x dump; the decision by CME to allow futures on Bitcoin, and Square Cash testing out Bitcoin as a payment system.
All of these factors have seen Bitcoin climb up as high as $8,200, and more growth is seemingly, constantly on its way.
“A few weeks ago, we turned short-term neutral on Bitcoin as the price level then (~$7,400) exceeded our estimate of fair value,” Lee wrote in a report…